Sue Robinson, Chief Executive of the National Franchised Dealers Association (NFDA), which represents franchised car and commercial vehicle dealers across the UK, comments on the measures announced in today’s (Wednesday 26 March 2025) Spring Statement set by the Chancellor, Rachel Reeves: “Today the Chancellor’s statement provided no update on some of the issues affecting the automotive retail industry. “NFDA remains of the view that raising employer NICs by 1.2 per cent to 15 per cent will significantly increase the cost of running a franchised dealership, particularly at a time when businesses are already facing pressure from rising energy costs and adapting to the shift towards electric vehicles. “Furthermore, the Spring Statement did not provide an update on the electrification of the UK car parc. This transition provides a huge economic opportunity for the UK and the Government needs to be incentivising consumers to purchase a new vehicle, which will drive growth in the UK economy. “Overall, there were missed opportunities in today’s announcement to use the automotive sector to stimulate growth in the UK. NFDA will closely examine the finer details of the Statement to understand its full implications for the sector and will continue to work with Government lobbying on behalf of franchised vehicle dealers.”